Joseph S. Daly Purchases 15,000 Shares of MBT Financial Corp. (MBTF) Stock

MBT Financial Corp. (NASDAQ:MBTF) Director Joseph S. Daly purchased 15,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was acquired at an average price of $9.95 per share, with a total value of $149,250.00. Following the completion of the transaction, the director now owns 200,212 shares in the company, valued at approximately $1,992,109.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of MBT Financial Corp. (NASDAQ MBTF) traded down $0.03 during midday trading on Monday, reaching $9.65. 36,079 shares of the company’s stock traded hands, compared to its average volume of 53,410. MBT Financial Corp. has a 1 year low of $9.25 and a 1 year high of $12.10. The firm has a market cap of $221.40, a PE ratio of 20.98 and a beta of -0.33.

MBT Financial announced that its board has authorized a stock buyback program on Thursday, January 25th that permits the company to buyback 2,000,000 shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 8th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Wednesday, February 7th. MBT Financial’s dividend payout ratio (DPR) is presently 52.18%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of MBT Financial by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,119,177 shares of the financial services provider’s stock worth $12,255,000 after buying an additional 14,357 shares during the period. BlackRock Inc. increased its position in shares of MBT Financial by 6.2% during the fourth quarter. BlackRock Inc. now owns 911,517 shares of the financial services provider’s stock worth $9,662,000 after buying an additional 53,158 shares during the period. State Street Corp increased its position in shares of MBT Financial by 12.3% during the second quarter. State Street Corp now owns 259,256 shares of the financial services provider’s stock worth $2,517,000 after buying an additional 28,398 shares during the period. Northern Trust Corp increased its position in shares of MBT Financial by 4.6% during the second quarter. Northern Trust Corp now owns 212,054 shares of the financial services provider’s stock worth $2,057,000 after buying an additional 9,304 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of MBT Financial by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 98,490 shares of the financial services provider’s stock worth $956,000 after buying an additional 649 shares during the period. Institutional investors own 48.99% of the company’s stock.

Separately, BidaskClub upgraded shares of MBT Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st.

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About MBT Financial

MBT Financial Corp. is a bank holding company for Monroe Bank & Trust (the Bank). Monroe Bank & Trust provides customary retail and commercial banking and trust services to its customers, including checking and savings accounts, time deposits, safe deposit facilities, commercial loans, personal loans, real estate mortgage loans, installment loans, individual retirement accounts (IRAs), automated teller machine (ATM) and night depository facilities, treasury management services, telephone and Internet banking, personal trust, employee benefit and investment management services.

Insider Buying and Selling by Quarter for MBT Financial (NASDAQ:MBTF)

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